And possibly having to modify the work to actual code and standards. 

To add to this, a lot of Wholesalers or agents from New Western deal specifically with lower class Real Estate, because like Stuart mentioned it is the lowest barrier to entry and typically easier to convince sellers of that property class to sell under their conditions. 

The lis pendens will be removed once the house is brought up to code (demolished or rebuilt). 

I just landed an internship in a zoning office and I have been doing it all to raise funds to put towards my first investment property.

I just started my due diligence phase, but the first thing I need to do is better understand the financial feasibility for the project, and how the return might compare to other investments we have undertaken in the past, which have been mostly acquiring existing buildings and renovating, not new construction.

How heavy is your wealth tilted to real estate?

If you want to sell do you have to sell through them?  

Best to you!

My question is, do I qualify as having lived in the house for this time, to get around the 2 out of 5 years capital gains tax rule?

You have to understand lead generation.